Cooper Companies Reports Q3 Results: Strong Free Cash Flow Amid Inventory Adjustments
The Cooper Companies reported mixed third-quarter results for fiscal year 2026, with revenue rising slightly to $1.066 billion and non-GAAP earnings per share increasing by 4% to $1.15. The company generated a record quarterly free cash flow of $273 million, contributing to an 86% increase in year-to-date growth. However, CooperVision's revenue remained flat due to planned U.S. channel inventory reductions rather than weak consumer demand. CooperSurgical delivered organic growth of 3%, driven by a 5% rise in fertility-related revenues. The board concluded its strategic review and decided not to sell the division despite receiving significant interest from potential buyers, citing offers that did not reflect CooperSurgical's long-term value. Additionally, the company authorized an extra $1 billion for share repurchases. For Q4, management expects flat to 2% organic revenue growth with non-GAAP EPS projected between $1.05 and $1.09. Margins are expected to face pressure from investments, foreign exchange fluctuations, and reduced tariff refunds.
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